'Meta' COO Sells $60 Million in Shares in March and April, Still Holds Significant Stake

Meta Platforms, Inc. (NASDAQ: META) Chief Operating Officer Javier Olivan executed pre-arranged Rule 10b5-1 trading plans on March 23, April 13, and April 20, selling approximately 7,000 shares of Class A common stock in the open market for total proceeds of about $4.4 million (roughly KRW 61.6 billion). The shares traded at roughly $600–$680 each and were sold from holdings owned directly, held in a family trust, and registered to multiple LLCs.

Despite these sales, Olivan still owns around 100,000 shares—valued at about $70.4 million under public disclosure—maintaining a significant stake in Meta.

Meanwhile, Meta is reportedly preparing a major workforce reduction beginning May 20, cutting around 8,000 employees—about 10% of its global staff—as part of its shift toward AI-focused operations and cost-reduction efforts.

Headquartered in California, Meta Platforms, Inc. is a global technology company that operates social media and messaging services such as Facebook, Instagram, and WhatsApp, while expanding investments in the metaverse and artificial intelligence.

A native of Spain, Javier Olivan succeeded Sheryl Sandberg as COO in 2022 and has since served as a key executive overseeing Meta’s global growth strategy, product development, and infrastructure.